Canadian Residential
Toronto — September 12, 2016 - Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of five multi-residential buildings located at 278 St. Vincent Street, 56 Donald Street, 170 Grove Street East and 174 – 178 Grove Street East in Barrie, Ontario (the “Properties”).
278 St. Vincent Street is comprised of 27 units in a four storey building with a laundry facility, tenant storage and surface parking.
56 Donald Street is comprised of 18 units in a three storey building with surface parking, a laundry facility and in-suite tenant storage.
170 Grove Street East is comprised of 15 units in a four story building with surface parking, a laundry facility, storage lockers and in-suite tenant storage.
174 – 178 Grove Street East is comprised of 22 units in 2 three storey buildings with surface parking and a laundry facility.
The Properties are in close proximity to the waterfront, parks, transit, Georgian College, Georgian Mall and major highways. They will be managed on-site by DMS Property Management Ltd.
“Starlight is pleased to continue to grow its Barrie multi-residential portfolio. These strategic acquisitions further strengthen our presence in Northern Ontario,” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The acquisition of the Properties further strengthens Starlight’s presence in the Barrie area, demonstrating Starlight’s access to investment opportunities and reflects Starlight’s reputation for successfully negotiating and executing transactions.
About Starlight Investments Ltd.
Starlight Investments Ltd. is a Toronto-based privately held, full service, real estate investment and asset management company that is driven by an experienced team comprised of more than 110 professionals. Starlight currently manages $6.4 billion of multi-residential and commercial properties for joint venture partnerships with institutional investors, Northview Apartment REIT, True North Commercial REIT, Starlight U.S. Multi Family Core Funds and for private investors. Starlight’s portfolio consists of approximately 33,000 multi-residential units across Canada and the United States and over 2.5 million square feet of commercial properties.
To learn more about Starlight, visit www.starlightinvest.com or contact:
Daniel Drimmer
President and Chief Executive Officer
+1 – 416-234‑8444
ddrimmer@starlightinvest.com
David Chalmers
Vice President, Asset Management
+1 – 416-234‑8444
dchalmers@starlightinvest.com